- Notwithstanding restricted donation funds active since July 1, 2015, all individual new-purpose restricted donations exceeding $500.00, whether solicited or unsolicited, must be approved by the pastor prior to solicitation or receipt/acceptance, whichever is earlier. This provision is effective November 1, 2017
- Restricted donations will be expended before the second fiscal year-end after the fiscal year of receipt. If the donation has not been expended in accordance with the restriction within two fiscal year-ends, the donated funds will be directed to a related ministry use and notice given to donors where practical. For example, if donations for the purchase of a new musical instrument received in November 2016 (FY16-17) exceed the cost of the instrument, the excess funds will support or supplement music ministry no later than June 2019 (FY 18-19). The funds may continue to be held for the restricted purpose beyond this time if the extended time is approved by the pastor.
- With respect to restricted funds on hand at adoption of the policy, every effort should be made to fulfill reasonable donor expectations that the funds will be expended for the intended purpose within the timeframe described in 2 above. In cases where fulfillment expenditures are no longer practical, permission should be sought from the donor(s) to redirect the funds to a related ministry and expended within the timeframe described above. The pastor may extend the holding period.
Notice will be published in the bulletin and website notifying donors of the new restricted donation and expenditure policy, and thereafter at least semi-annually. Donors of a restricted gift of $500.00 or more will receive a copy of the policy at the time of the donation.